Vietnam is a high-populated country with more than 65% of the population doing farming jobs. This is one of the reasons explaining why farmer cooperatives have become one significant economical component in the Vietnamese economy. Therefore, a comprehensive understanding of farmer cooperatives is really critical. However, the literature on farmer cooperatives in Vietnam is meager to understand the manner of its operations or promote this economical component. The system of farmer cooperatives in Vietnam has increasingly contributed to the GDP of Vietnam. In 2020, it contributed to GDP directly and indirectly at 4.8% and 30%, respectively. However, only 30% of farmer cooperatives are operating effectively; and there are many farmers who still do not want to participate in agricultural cooperatives. Hence, this study aims to explore farmers’ perceptions of agricultural cooperative characteristics preventing them from participating. The method employed to conduct this study is the mean-end chain approach and a total of 20 farmers and 02 representatives of cooperatives were interviewed by soft-laddering interview technique. The research findings show that there are 14 attributes (characteristics of a cooperative system), through 11 consequences, leading to 06 (farmers’) values. The findings can explain clearly the reasons preventing farmers from participating in agricultural cooperatives. Found (farmers’) values can help policymakers and management of cooperatives change/adjust manners to attract farmers and promote farmer cooperatives.